The 700 invited guests will include thesps and recording artists under the age of 25, as well as the children and families associated with the two beneficiaries of the afternoon: Starlight Children’s Foundation and LA’s Best.

The event, featuring festivities and live performances, is produced in conjunction with Variety’s annual Youth Impact Report.

In addition, the annual auction will begin Nov. 30. The fund-raising auction features such items as walk-on roles in TV shows, lunch with young stars and tickets to Hollywood events.

The goal of Variety’s Power of Youth is to reach out to the next generation of entertainers and encourage them to support philanthropic and humanitarian causes — and to use their positions to encourage fans to do the same. Supporters of the cause include the Jonas Brothers, Miley Cyrus, Kelly Clarkson, Hillary Duff, Angus T. Jones, Selena Gomez, Abigail Breslin, David Henrie, Dakota Fanning, The Sprouse Brothers, Lil Romeo, Tyler James Williams, Jesse Eisenberg, Maggie Grace and many more.

Starlight is a national in-hospital and outpatient program dedicated to helping seriously ill children and their families. LA’s Best, an after-school program, serves more than 28,000 children with the greatest needs and fewest resources throughout the City of Los Angeles.

Variety’s Power of Youth has raised more than $1 million in the past few years, according to Variety publisher Brian Gott.

“With the help of more than 200 young artists who are in a position to influence their peers and fans, we are able to raise real money to support real causes where there is a real need,” he said.

“We applaud Variety for proactively recognizing young people’s philanthropic work through the Variety’s Power of Youth program,” said Jeff Peterson, director of community relations at Best Buy, one of the event’s sponsors.